What is firmographic data?
Firmographic data refers to specific characteristics or attributes of businesses and organizations, much like demographic data refers to characteristics of individuals. The term "firmographic" is a combination of "firm" and "demographic." This type of data is particularly useful for companies that engage in B2B (business-to-business) transactions, as it helps them segment their market and target their efforts more effectively.
Common types of firmographic data include:
- Industry: The sector or sectors in which a company operates.
- Company Size: This could be determined by the number of employees or annual revenue.
- Location: Where a company is headquartered or where its various branches are located.
- Company Status: Whether a company is public or private, a startup or established, etc.
- Performance: Metrics like annual revenue, recent growth rates, and market share.
- Technology Use: The types of technology a company uses, such as their software and hardware stack.
In the context of lead generation, firmographic data is used to identify and qualify potential business leads. It's an important part of creating a detailed and accurate ideal customer profile, which can guide marketing and sales strategies. For instance, a software solution provider may target businesses in a certain industry, of a certain size, and located in specific geographic regions. Firmographic data makes this targeted approach possible.